01 September 2016
what are the limits for vat audit and tax audit for businessmen.
what is the difference between vat audit and tax audit.
plz can anyone clarify . its urgent
01 September 2016
Dear user,
Tax audit occurs when a business turnover exceed 1 crore and is done for income tax purposes.
When vatable goods turnover exceed 1 crore then vat audit come into picture and it's for state vat.
Hope your query is resolved
Kindly like if my response has helped you
02 September 2016
from 1/6/2016 onwards they have increased limit form 1 cr to 2 cr for tax audit .
what about vat audit ? for vat audit limit also same 2 cr or what? confused
03 September 2016
Dear, the limit varies from state to state, so please elaborate for which state u r asking. And regarding the enhancement in limit it has been done from the current year.
CAclubindia
